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Diedrich Coffee gives up fight
Local chain sells 47 retail outlets to Starbucks for $13.5 million to focus on wholesale bean business.


The Orange County Register

Irvine-based Diedrich Coffee, conceding defeat in the coffee shop duel with Starbucks, agreed to sell the 47 stores it owns to its Seattle rival for $13.5 million.

The local company will remain in business as a roaster and wholesaler of coffee beans. The sale includes all company-owned Diedrich and Coffee People locations. Franchise stores aren't included in the sale.

All "non-management employees in good standing" will be offered positions with Starbucks, and managers will be provided the opportunity to interview for positions, the company said.

Here's the company's statement:

( blabla )